Martin Whitman Names Successor

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Jan 02, 2007
Mutual fund legend Martin J. Whitman has remained sharp as a tack well beyond the age when most of his peers have swapped spreadsheets for golf clubs. Indeed, the 82-year-old manager told investors as recently as October that he would keep working as long as he was compos mentis, throwing in a little Latin to show he was still of sound mind.


So it was a bit of a surprise when the founder and co-chief investment officer of the Third Avenue Value Fund said this week that he had designated portfolio manager Ian Lapey as his successor


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